Insurers Warn N.J. Not to Restrict Use of Education, Job Status in Rating
East News • March 6, 2007
New Jersey drivers could see a return to high prices and fewer choices for their insurance if legislators limit the use occupation and education as rating factors, insurers warned lawmakers at a ...
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Subject: Learn The Facts
Posted On: March 6, 2007, 1:04 pm CST
Posted By: Tom
Comment:
The Texas Department of Insurance (no particular friend to the industry) commissioned an independent study of credit scoring and found - surprise - that use of credit was objective, predictive and not discriminatory. The same has been found by a number of other independent studies.
So who is the racist - an insurer that collects credit scores, education and occupation information that indicate an actuarially sound basis for use of this information - or the critics who ASSUME that minorities have poor credit, poor jobs and no education?
Subject: Learn The Facts
So who is the racist - an insurer that collects credit scores, education and occupation information that indicate an actuarially sound basis for use of this information - or the critics who ASSUME that minorities have poor credit, poor jobs and no education?